PMO support for a global restructuring programme
A global tier one bank embarked upon a global restructuring programme with the aim to significantly reduce operational costs. The client contracted our services to provide Project Management Office (PMO) support to their digital programme by coordinating the workstreams for operations, technology, real estate offices and branches.
The project involved targeting all legal entities and markets with supporting infrastructure to have their systems and processes updated. Our PMO support service provided the following:
- Tracking and reporting of project progress on timescales and programme expenditure against agreed plans;
- Identification and clarity on risks, issues, actions and dependencies;
- Remedial action for gaps in progress to ensure project adheres to agreed timeframes;
- Coordination of all workstreams to align with mapped project plan, ensuring milestones were met;
- Management of senior stakeholder relationships to ensure cohesion.
The solution and key benefits
By the end of the project, we had created clear visibility across the global programme, which enabled senior stakeholders to monitor, forecast and report progress for milestone dates.
We also provided clarity on operational expenditure and benefits realisation in order to ensure global operating cost targets were on track, as well as ensuring the project had stakeholder alignment, which resulted in effective decision making.
At the end of 2022, a more efficient and focussed organisation will be established with significantly reduced operating costs.